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Sep 25, 2021
Henry Schein Q3 2021 Earnings Report
Henry Schein reported record financial results for Q3 2021, driven by strong execution and patient traffic.
Key Takeaways
Henry Schein reported record third-quarter financial results with net sales of $3.2 billion, up 11.9% year-over-year. GAAP diluted EPS was $1.15, compared to $0.99 in the prior year, and non-GAAP diluted EPS was $1.10, compared to $1.03 in the prior year. The company increased its 2021 non-GAAP diluted EPS guidance to a range of $4.27 to $4.35 and introduced preliminary guidance for 2022.
Total net sales reached $3.2 billion, reflecting an 11.9% increase compared to the previous year.
GAAP diluted EPS from continuing operations was reported at $1.15, an increase from $0.99 in the prior year.
Non-GAAP diluted EPS from continuing operations was $1.10, up from $1.03 in the previous year.
The company increased its 2021 guidance for non-GAAP diluted EPS from continuing operations to between $4.27 and $4.35.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Henry Schein provided financial guidance for 2021 and preliminary guidance for 2022 non-GAAP diluted EPS from continuing operations, with growth expected in the mid to high single digits for 2022.
Positive Outlook
- 2021 non-GAAP diluted EPS from continuing operations is expected to be $4.27 to $4.35.
- The EPS guidance reflects growth of 44% to 46% compared with 2020.
- The 2022 non-GAAP diluted EPS from continuing operations is expected to grow in the mid to high single digits over 2021.
- The guidance includes current continuing operations.
- The guidance includes completed or previously announced acquisitions.
Challenges Ahead
- The company is not providing guidance for 2021 GAAP diluted EPS from continuing operations.
- The company is not providing guidance for 2022 GAAP diluted EPS from continuing operations.
- Guidance does not include the impact of future share repurchases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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